Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
As per our previous analysis, DXY rejected the upper bound of the red channel and traded lower.
What's next?
📉 DXY is undergoing a correction phase, trading within the rising channel in red, and it is currently approaching the lower bound of the channel.
Moreover, it is retesting a strong demand zone highlighted in green.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green demand and lower red trendline.
📚 As per my trading style:
As #DXY approaches the lower blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
As per our previous analysis, DXY rejected the upper bound of the red channel and traded lower.
What's next?
📉 DXY is undergoing a correction phase, trading within the rising channel in red, and it is currently approaching the lower bound of the channel.
Moreover, it is retesting a strong demand zone highlighted in green.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green demand and lower red trendline.
📚 As per my trading style:
As #DXY approaches the lower blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trading Made Simple; and Rule-Based
www.RichTL.com
Instagram:
www.instagram.com/richthesignalyst
Telegram:
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
www.RichTL.com
Instagram:
www.instagram.com/richthesignalyst
Telegram:
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal